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01-21-2021, 03:12 PM #9181
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01-21-2021, 03:24 PM #9182
It really depends, and it's kind of hard to explain outside of the TW platform, because I often use a couple indicators that I think are specific to them, or at least to platforms designed specifically for this type of trading.
But general rules of thumb for a starting point on a neutral position - a higher volatility is ideal (even more so IV rank, which might be a TW only thing, but it compares a stocks IV against it's IV for the past year to determine if it's high relative to its own history). I put them on with 30-60 DTE, whichever monthly cycle is closest to 45, generally trying to avoid earnings, unless it's really close to expiration, otherwise I'll wait until the day before earnings to put it on when IV is pumped. I'll usually put them on between the 16-30 delta strikes, with 30 being the 30 being sort of the default, depending on how aggressive or safe you want to be, and what sort of premium you're looking for. From there you can kind of adjust as necessary. Widen if you think it's too tight, tighten if you need more credit, skew it if you're semi neutral with a lean to bullish/bearish, etc. I don't buy into TA, but I'm not immune to the psychological effects of looking at lines on a graph either, so I generally have an idea of where I want my strikes to be to feel safe. And I aim to close the position when I've hit about 50% of the max profit - so if I sold for $100 credit, I'll have a standing order in to buy back at around $50.Misc Firearms Crew
Official Supp. Misc Beer Crew
RIP YGST
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01-21-2021, 03:25 PM #9183
So using TWTR as an example - ignoring that they're having earnings, the IVR is pretty high for them right now. Looking at the chart, my comfort zones start looking around 42-44 on the bottom (closer to 42 since they're down a bit recently) and like 56 up top. On the 59 DTE Mar 19 options, the 30 deltas are right around that zone as well - call it 42/55, but that far out it feels a little tight for me and my tastes, so I might widen it a little. The next strike on the call side is 60 at the 20 delta, so I'd push the put down to 39-40 to keep it pretty neutral. Gets a nice wide zone to be right in and a pretty decent credit for it.
http://opcalc.com/lBnMisc Firearms Crew
Official Supp. Misc Beer Crew
RIP YGST
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01-21-2021, 03:25 PM #9184
Not sure that's as much as you were looking for, but hopefully it gives some kind of insight into my thought process I guess.
Now just to be a hypocrite, even though earnings is coming up, I'm kind of liking how this is looking and might do it tomorrow anyway, or look at the 42/55 in Feb. Like I said, it gives a pretty wide range and I don't know that I expect TWTR to go too extreme in either direction after earnings, and in the case of the Feb 19 cycle with 29 DTE, the earnings are pretty close to the expiration and I should be closed or managing by then anyway.
Sorry for multiple posts, but this garbage site wouldn't let me post the whole thing as 1.Misc Firearms Crew
Official Supp. Misc Beer Crew
RIP YGST
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01-21-2021, 03:26 PM #9185
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01-21-2021, 03:33 PM #9186
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01-21-2021, 03:36 PM #9187
Took some profits again today. All about making small good decisions. Unsure how tomorrow’s going to play out.
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01-21-2021, 03:39 PM #9188
awesome info! I appreciate it!
What's funny is that strangles or straddles or wtf ever are brand new to me, and come to find out I was basically doing them with a DASH csp that went wonky:
Spoiler!
Same brah. I had a CSP on AMZN for $3035 exp 1/29. Closed it at 91%, left almost $400 on the table, but kind of nice just not having to think about something potentially massive."It won't get better, just different."
“Yeah, that's what the present is. It's a little unsatisfying because life's a little unsatisfying.”
Bring back ****got, ****got .
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01-21-2021, 03:44 PM #9189
- Join Date: May 2009
- Location: Los Angeles, California, United States
- Age: 32
- Posts: 22,676
- Rep Power: 36254
Ive gotten burned on like 3 or 4 amazon pcs'
So probably a good decision.
I close early frequently. I'm fairly safe.I used to have an AVI of my traps and neck. I changed it a while back and tried editing my user title but this website is glitched and it will not let me change it anymore.
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01-21-2021, 04:09 PM #9190
Im debating on doing a 2/19 AMD CSP @ $88 strike and CC @ $100 strike. Thoughts?
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01-21-2021, 04:26 PM #9191
- Join Date: May 2009
- Location: Los Angeles, California, United States
- Age: 32
- Posts: 22,676
- Rep Power: 36254
Tug@ the implied volatility is fairly low still. 54%. Not sure how it compares to its usual volatility however.
But the put is also down 20% from today. Will be down even worse tomorrow.
Ideally you sell csp' on stocks that are down and have a recent spike in IV
Putting 8 grand on a 1 month 400$ profit.
Don't like it.
Edit:like I mentioned before, not sure why theta strategist like to do monthlies.
You can sell an 88 expiring next week for 200+ then provably do something similar again next week. More overall profit. Less chance of getting assigned.Last edited by Galindo62; 01-21-2021 at 04:44 PM.
I used to have an AVI of my traps and neck. I changed it a while back and tried editing my user title but this website is glitched and it will not let me change it anymore.
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01-21-2021, 05:44 PM #9192
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01-21-2021, 05:51 PM #9193
damn, maybe I will start a thread lol. I should've at least bookmarked the posts where I rambled on and on about them.
A real clear and concise youtube channel I like is
https://www.youtube.com/channel/UCfM...P1tKShQ/videos
Check out his vids on cash secured puts and covered calls. He breaks everything down very very well and isn't an obnoxious yt'er."It won't get better, just different."
“Yeah, that's what the present is. It's a little unsatisfying because life's a little unsatisfying.”
Bring back ****got, ****got .
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01-21-2021, 06:02 PM #9194
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01-21-2021, 06:04 PM #9195
Hmm I need to start learning about IV and all those greek terms. I didn't even bother looking at the weeklies but now it's pretty obvious.
I think I will do a 1/28 weekly CSP @ $88 strike (premium of $2.33) as well as a CC @ $100 strike (premium of $1.58). Pretty nice play, nearly $400 in a week. Will be sweet if it stays between $88-$100
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01-21-2021, 06:25 PM #9196
More money to be made. I’ve done very crude number crunching in the past to see where the sweet spot is for selling options, looking at weeklies, 30-45 DTE, 60-90 DTE, and 12 months. 30-45 had the best returns when looking at similar moves (as in x% above strike and how many opportunities over the longest period of time)
"It won't get better, just different."
“Yeah, that's what the present is. It's a little unsatisfying because life's a little unsatisfying.”
Bring back ****got, ****got .
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01-21-2021, 07:41 PM #9197
I’m in on $tpc , $orbc, $dtil. Bag holding $plug since 20ish.
Hopefully I put enough into $tpc b4 it rockets . Probably put more in tommorrow while options still cheap. It’s my infrastructure play, they had a govt contract awarded today and no movement in price.
https://seekingalpha.com/article/440...structure-bill
https://www.constructiondive.com/new...decade/588450/
https://blog.executivebiz.com/2021/0...ture-projects/keep rep trading out of your sig line
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01-21-2021, 08:43 PM #9198
Brahs, brace yourselves for demo day, srs. They're hitting critical mass. I guarantee Demo Day, the unlock expiration, etc., everything is timed for perfection.
If anyone thinks 3,000+ of the world's best, most motivated computer engineers in the world made Apollo, Foundry, and Gotham, and are now sitting on their hands, just lol.
"In Q4 2020, Apollo managed 150,000+ upgrades per week across environments, up from 40,000+ upgrades per week in Q2 2020." <-This is more a product of scaling up within existing clients than it is newly acquired clients. Acquiring new clients is great, but their ability to scale up within an organization or system is KEY, it's growth with almost no variable cost.
"The event will also highlight Palantir’s modular strategy, including the announcement and demonstration of new software modules such as:
Software-Defined Data Integration (“SDDI”): to integrate with dozens of ERP systems in days
Low-Code / No-Code Environments: to deploy operational applications in hours
Archetypes: to start business use cases in a few clicks
AI-Enabled Mission Command: to support U.S. and allied nations in planning and executing missions"
Buckle-up Boyos.
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01-21-2021, 08:47 PM #9199
Well SPWR blew right by my CC. Usually it gives up its gains right away, but not this time lol. One thing I think I'll like about CC's is it will help me part ways with stuff I've gotten too attached to. Got in SPWR at 8.13, and my CC is 38, so will lock in some nice gains along with premium. Won't be looking to roll it forward as I need to clear some space, won't mind if it expires worthless either. My GAN CC looking good, will sell another after expiry at some point if premiums decent.
What kind of price targets are you guys using for CC's? Just picking something you're comfortable selling at or chasing higher premiums and then rolling out if you need to? I've got DKNG, SPCE, PLTR that could add up to some nice premium, but I don't want to end up backtracking and having to roll out to keep my shares lol
Shoutout to everyone with all the good info itt. Most of you are on spread.
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01-21-2021, 08:51 PM #9200
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01-21-2021, 10:28 PM #9201
WSB getting taken down (maybe). BB, GME, NIO brahs run for the fukking doors, lmao.
Last edited by ReyDelMundo; 01-21-2021 at 10:38 PM.
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01-22-2021, 01:28 AM #9202
Absolute crazy two weeks for me. Made 35k longing brc etfs and tesla only to lose 15 of it hoping for another leg up smh. Definitely blurred the line on degen gambling and investing in tech i believe in.
Will be sticking to LEAPs until im back above pdt limits again.
Currently in tdoc, fubo, pltr, crmd. Tdoc should have good growth as we emerge out of the pandemic as it will have a foothold in our post pandemic economy. Fubo honestly looks prime to retest aths via short squeeze. Pltr dd by miscer above. crmd has upcoming fda approval for its catheter defencath solution in the American market sometime next month.
Im shakiest on fubo but the calls printed last trading session."if you are irritated by every rub, how will you be polished..”
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01-22-2021, 02:41 AM #9203
- Join Date: May 2009
- Location: Los Angeles, California, United States
- Age: 32
- Posts: 22,676
- Rep Power: 36254
This data shows 30 delta performed slightly better than snp500 index.
If your selling 30 delta covered calls you will get your shares signed away though. Eventually. So I think the data is assuming you jump to another stock.
If you dont want your shares called away. The easiest thing is to wait for a surge. Then sell like 10-15 delta with a week expiry.I used to have an AVI of my traps and neck. I changed it a while back and tried editing my user title but this website is glitched and it will not let me change it anymore.
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01-22-2021, 04:36 AM #9204
How do you do, fellow traders. It seems to me like futures are off 0.8%. Time for volatility into March.
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01-22-2021, 05:27 AM #9205
- Join Date: May 2009
- Location: Los Angeles, California, United States
- Age: 32
- Posts: 22,676
- Rep Power: 36254
Post your account venom.
I used to have an AVI of my traps and neck. I changed it a while back and tried editing my user title but this website is glitched and it will not let me change it anymore.
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01-22-2021, 06:10 AM #9206
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01-22-2021, 06:24 AM #9207
AMD is looking good. 2/19 $100C here. You brahs gonna hold through earnings or sell before?
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01-22-2021, 06:34 AM #9208
I hate when everything start all red
🎄Mods changed my sig. ™Copyright ©2003 - 2005- 2017. All Rights Reserved. Uncle penis™ is a registered trademark of MinisterOfLust.
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01-22-2021, 06:37 AM #9209
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01-22-2021, 06:39 AM #9210
Added more BQ. Chinese CHWY brehs
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